Banks and Other Lenders are Lowering Prime Rate to 2.85%

Submitted by Valueland on Thu, 01/29/2015 - 20:10

Following RBC's first annoucement on January 27, 2015 to lowering the prime rate to 2.85%, all the other major banks and some of the smaller lenders have followed the movement and lowering the prime rate to 2.85% as well.

In combination with the 0.90% discount to the prime, the lowest variable rate you are looking at is 1.95% today. Some conditions apply, please contact Valueland Mortgages to find out more details.